Average homeowners insurance cost in Norman, Oklahoma

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The average cost of homeowners insurance in Norman is $5,702 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $3,120 more than the national average of $2,582 .

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Norman depend on a number of factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Allstate is the cheapest homeowners insurance company in Norman with an average annual premium of $3,836 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Norman. Keep reading to learn about the monthly cost of homeowners insurance in Norman, the cost for different dwelling coverage levels, and which companies provide the most affordable home insurance in Norman.

Key Takeaways

The average cost of homeowners insurance in Norman is $5,702 per year.
Allstate is the cheapest homeowners insurance company in Norman with an average annual premium of $3,836 .
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $995 more a year for home insurance.

Average homeowners insurance cost in Norman per month

Norman homeowners pay an average of $475 a month. It’s $4 less than the state average of $479 and $260 more than the national average for home insurance across the nation. The price of your homeowners insurance policy in Norman may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house in Norman

The average cost of homeowners insurance in Norman, OK is $4,707 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The cost of your home insurance each year depends on several factors – including the risk of natural disasters in your area. If your city is prone to events like hurricanes, wildfires, or floods, you’ll likely pay more for coverage.

Some places are more prone to natural disasters, like floods, hurricanes, or tornadoes. That makes rebuilding after a major event more expensive, which is why home insurance tends to cost more in those areas. And keep in mind, your standard policy probably doesn’t cover flood or hurricane damage. If you live in a high-risk zone, it’s definitely worth looking into separate flood insurance for extra protection.

Average homeowners insurance cost for a $300,000 house in Norman

According to a rate analysis by Insure.com, homeowners in Norman pay an average of $5,702 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you’ll have to pay $995 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Norman by company

Among the carriers we analyzed, Allstate is the most affordable homeowners insurance company in Norman, offering an average annual rate of $3,836 , while Oklahoma Farm Bureau ranks second.

Researching a company thoroughly before selecting a homeowners insurance policy is essential – and we can help with that. We took a close look at all the insurance companies serving Norman and put together a list of the most affordable ones.

Here’s a look at the top home insurance companies in Norman and what you can expect to pay with each one on average.

Home Insurance Company	Annual rate
Allstate	$3,836
State Farm	$4,484
Shelter Insurance	$6,216
Farmers	$8,015
Oklahoma Farm Bureau	$4,445
USAA*	$6,081

*USAA is only available to military community members and their families.

Many insurance companies offer discounts to customers who bundle their policies. By combining your home insurance policy with other policies, such as auto insurance, you can lower your premiums and simplify your insurance management with one provider.

Natural disasters in Oklahoma that can impact your home insurance

Natural disasters are a part of life in Oklahoma, often leading to expensive insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

When you’re aware of the specific risks in your region, you can tailor your coverage to match – whether that means increasing your policy limits, choosing a deductible you’re comfortable with, or adding extra protection for uncovered events. Taking these steps now can help you avoid being underinsured and give you more financial security if a natural disaster hits your area.

Oklahoma is commonly affected by Heat wave and Ice storm.

How home insurance protects you against natural disasters

Home insurance protects your property and belongings from the financial impact of natural disasters. Home insurance can help pay for structural damage repairs, replace lost or damaged items, and provide funds for temporary housing if you can’t live in your home. This coverage provides financial relief, making it easier for homeowners to recover quickly from the effects of natural disasters.

While standard policies generally cover damage from windstorms, hail and lightning, additional coverage is required for disasters like floods, earthquakes and wildfires.

These types of damage are usually not covered by homeowners insurance, so homeowners need to buy separate flood or earthquake insurance to ensure complete protection.

Pro tip: Review your policy annually

There’s little time to prepare for a natural disaster, and it’s too late to make changes once a storm is on the radar. Make sure your homeowners insurance includes coverage for the types of disasters common in your area. Standard policies don’t always cover everything, like flood damage, so double-check exclusions and consider add-ons if you need them.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Norman for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.